Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
Australia
Luxury Brands Flock to the ‘Most Remote City in the World’
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
How Mecca Dominates the Australian Beauty Market
The Melbourne-based multi-brand retailer has kept both local and international competitors at bay with a regional store footprint four times larger than Sephora’s.
Australia’s ‘Quiet Giants’ Go Global
Accessible luxury and advanced contemporary brands in the US and Europe can expect greater competition from Australian labels expanding overseas like Camilla, Aje and Rebecca Vallance.
How Much Will Luxury Benefit From Australia’s Reopening?
Wealthy tourists are key to the recovery of the Australian luxury market but analysts predict that the sector won’t return to pre-pandemic levels until next year.
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Djokovic Sponsor Lacoste to Contact Tennis Star to Review Events in Australia
“As soon as possible, we will be in touch with Novak Djokovic to review the events that have accompanied his presence in Australia,” Lacoste said in an emailed statement.
Fragrance Industry Wakes up to Australian Botanicals
Entrepreneurs are using exotic botanicals from Australia to create unique scents that attract the attention of global retailers and perfume giants like Guerlain, LVMH and Estée Lauder.
Australia’s First Nations Fashion Designers Make a Mark
After years of marginalisation and underrepresentation, Indigenous designers are carving out new business opportunities in the Australian fashion sector. Is the industry doing enough to support them?
Justin O’Shea Debuts First Collection as DrizaBone Creative Director
The fashion industry veteran joined DrizaBone last Spring in a bid to revitalise the renowned-yet-sleepy Australian heritage label founded in 1898, known for its signature wax jackets and oilskin coats.
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Gen-Z’s Evolving Retail Priorities
Equipped with raw consumer data and an expansive market view, payment solutions provider Afterpay shares its insights on the spending priorities of the elusive Gen-Z consumer. Here, BoF identifies its key findings.
Retail
Why Fashion’s Payment Strategies Should Become More Consumer-Centric
The co-founder of Afterpay, which has 48,000+ retail partners including Revolve, Fenty Beauty and Asos, shares how younger consumers’ purchasing behaviour is evolving and the growth levers rethinking payment strategies could represent for retailers.
Why Fashion’s Payment Strategies Should Become More Consumer-Centric
The co-founder of Afterpay, which has 48,000+ retail partners including Revolve, Fenty Beauty and Asos, shares how younger consumers’ purchasing behaviour is evolving and the growth levers rethinking payment strategies could represent for retailers.
In Crisis, Don’t Ditch Sustainability
Under severe economic pressure, it’s tempting to see social responsibility as dispensable, but it’s as essential as ever to long-term strategy, argues Clare Press.
Outdoor Wear Brand Kathmandu Acquires Rip Curl
The $236 million deal that sees the last of Australia's big three surf brands fall to overseas control.
The News in Brief
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
Lagardère Group Launches Egyptian Edition of Elle Magazine
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
Report: FTC to Consider Blocking Tapestry’s $8.5 Billion Capri Takeover
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
Emerging Designer Platform The Folklore Raises $3.4 Million
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Sephora, Perfumes and Cosmetics Drive LVMH Sales Growth
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.